Topic: Will Bitcoin fall further before it rises again? (Read 2315 times)

It will likely go close to the lows again, but the floor has been reached. As for a clear sustained break upwards it will take time, probably will happen during the 2nd half of this year.

It falls and it stands up. You can shoot, but you can't kill Bitcoin.

not below 100

What about platinum? It's worth more than gold and you don't make jewelry with it. It's just rare and deflationary, that's why it's expensive. Iron is common and people mine it all the time, so it's cheaper. People invest in those rare metals because they know their price will rise (and the fiat price will lower).

And Btc does have more usefulness, like the ability to transfer money instantly with low or no taxes.

Yes, btc may not be a good store of value for the short term, but I don't think that's a good reason to buy btc now anyway. But I expect that at least in 10 years it will be worth a lot more than now.

And fiat is not so much ahead of btc as a store of value if we consider just the inflation. Some fiat currencies have a ridiculous inflation and btc can be a safe escape route from it.

Btc is also by very far the most known and used crypto currency, and it won't be easy for another currency to reach its popularity, which is a very important factor in btc's survival and value. I would say the more people using btc, the more chances it has to survive, and the higher its value. And if it's still alive at the end of inflation, its price will have nowhere else to go but upwards.

Quite the contrary: gold got loads of real world applications, including jewelry. Gold is one of the few things that remained valuable throughout history and is still desired by a lot of people worldwide. Bitcoin however, is not desired by almost everyone. The exception there being the people that come to these boards and related places, to talk about their cherished 'currency' that never was.

Bitcoin might not be affected by the inflation and taxes of fiat (although the tax part might get you into trouble if you don't tell the authorities about your Bitcoins), but it sure as hell is affected by internal inflation due to mining. Inflation that only slowly bottoms out, and probably bottoms out too late to make any last minute impact. In this world things are moving fast, and a timeframe of about 10+ years to get rid of most of the inflation in Bitcoin is simply  way too long. Satoshi should've thought of that when he created the protocol, as the inflation within Bitcoin makes it inherently more unstable.

But Bitcoin as a store of value? Surely not at this moment. Bitcoin just lost 80% of its value in 14 months time, which makes any talk about a store of value ironic.

Almost no gold holder uses gold to purchase things, But the price of gold still has been rising for centuries. Btc is at the very least a way to store your money that is not affected by the inflation and taxes of fiat (btc inflation is temporary and will be over). That imo is an extremely valuable real-world use, more than enough for btc price to keep rising in the indefinite future, even if people can't "buy" anything directly with it.

There are few alternatives out there, and they are often summarized as 'Crypto 2.0'. Bitcoin itself is rather ancient by know, and there are more sophisticated ideas out there. Take NXT, or the ambitious Ripple network with its XRP. I'm not that much into NXT, but what gives NXT a headstart on Bitcoin is the simple fact that there actually is development going on there. If you read on about NXT, you'll notice that it is much more than Bitcoin will ever be at this point.

Also, I consider the mining 'problem' to be one of the fundamental flaws to Bitcoin, as it causes massive inflation in the run up period. A certain degree of centralisation is reguired, something the Bitcoin 'Bilderbergers' have seem to noticed. More ideas and business plans and less foolish idealism. I dare to say that idealists rather succeed in building anything of value, as they tend to have a really warped vision on how reality works.

Ripple is something you will have to read up on: it is not really easy to explain in a few sentences. I consider Ripple to be the most advanced thing out there, mostly because it is  centralised and run like a business. This however might mean that the holders of XRP will not see any jumps to the moon, but then again, if Ripple succeeds to become succesfull in a niche market alone it will likely reflect on the value of XRP in such a manner that it dwarfs regular ROI's.

About the 'value' of cryptocurrencies: I consider most of them, especially Bitcoin, to be wildly overpriced for something that got almost no real world use. Probably some Bitcoin fanatic will get out of the woodworks and attack me for it, talking about 'ever increasing adoption', but the truth of the matter is that almost NO single Bitcoiner uses Bitcoin to purchase things. It is a speculative vehicle that has gone through a massive bubble phase. It will highly probably never ever rise again as it did in the past. The next months will reveal the fundamental flaws behind Bitcoin as the bubble will deflate further. I am predicting at least a few dozen suicides because of it, as some people that were so stupid to buy at the top will never see their money back. And that surely is not something I can laugh about, as I consider that a real human tragedy.

I'm a layman in economics, but the way I see it, crypto currencies are of extreme value, and in the long term, become deflationary. Therefore, the only way of one of them becoming extinct is when it's replaced by another. And if they don't become extinct, they will become deflationary and at least at that time, the price will certainly rise indefinitely

According to you, btc is being replaced by next gen coins, what are those coins? Can you give examples of some of them? Why do you think they have the potential to beat bitcoin?

That 'before it will rise again' is a huge assumption of epic proportions...

It is extremely unlikely it will go up again, next generation coins are taking over. The bitcoin economy is slowly collapsing but will soon accelerate.

#1 as usual
#2 it's harmful for those who plays with more than they can afford to lose
#3 enjoy

this currency will rise again in future but dont know when approx price will be 250$ per btc

1-How are pump and dumps done with bitcoin?

2-Are they harmful to btc? How?

3- Can/should something be done to prevent it? Or should we just enjoy the ride and try to benefit from it?

That is if it will rise again as it did in the past. Let us just consider that a given 'fact' for the sake of making a prediction, but I don't expect it to go through another moon cycle.
If it is to rise again (which it highly probably won't, but let's just say it will for the sake of argument) then it will first go down to the 50-100 range. Especially the part from 150 to 50-100 will take a few months. If there is a bottom, it will likely form in that range.

Below $150 is still possible if the next mega-dump succeeds.

No one knows. I think the most probable thing right now is a re-test of the $170s. If we do that on high volume and experience a decided bounce back into the $250s, we've accomplished a trend-reversal. But I may be wrong with this, keep that in mind - no one knows what will happen!

Nobody knows the short term price behaviour.

Yes, it will fall further, maybe down to $160-$150. After hitting bottom, it should bounce up to $200-$220 range.

I would not be surprised by another test under $200. Would be happy to buy back under there again too!

Nah. I think the only way is up now though it may stay at current value for a while. I can't see it falling by much if it does but I think we'll see big gains this year, we just need some patience and I'm sure we'll be rewarded.

Even if it doesn't fall to your expected price as quickly as what you thought, doesn't mean that it will never will someday. Fact is nobody knows what is going to happen next. Studying the chart or analyzing the trend will not tell us everything. So go with your gut feeling